Business news from Ukraine

Business news from Ukraine

AIR ARABIA RESUMES FLIGHTS FROM UNITED ARAB EMIRATES TO UKRAINE

Air Arabia has resumed regular flights from the United Arab Emirates (UAE) to the Boryspil International Airport.
“Yesterday we met flight G9 261 from Sharjah and congratulated the crew on the resumption of regular flights,” the airport said on its Facebook page on Monday.
According to the Boryspil airport, Air Arabia will operate flights four times a week: on Wednesdays, Fridays, Saturdays and Sundays.

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UKRGAZVYDOBUVANNIA REDUCES PRODUCTION OF GAS BY 0.5%

JSC Ukrgazvydobuvannia, part of the Naftogaz Exploration and Production division, reduced the production of marketable gas by 0.5% (by 47.8 million cubic meters) in January-September 2020, as compared to the same period last year, to 10.135 billion cubic meters.
Naftogaz noted that it will be more difficult to maintain production at last year’s level in the fourth quarter due to the cumulative effect of negative factors associated with the four months’ lack of approval of the permits required to start drilling, as well as low prices for energy with a consequent reducing of investment in production activities, and a delay of the delivery of equipment and materials due to quarantine restrictions.
In general, it was possible to maintain production volumes over the nine months due to the modernization and construction of ground infrastructure facilities, the implementation of the development program and additional exploration of existing fields, as well as work on new areas.
So, since the beginning of 2020, the divisions of Naftogaz Group have completed the drilling of 27 wells, performed 210 workovers of wells, 75 hydraulic fracturing operations, and 551 coiled tubing operations, completed the reconstruction of four gas treatment units, the construction of four gas pipelines and 66.8 km of plumes.

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HEALTH MINISTER: DEVELOPMENT OF UKRAINIAN VACCINE AGAINST COVID-19 CORONAVIRUS CAN BE COMPLETED IN YEAR

Three stages of clinical trials of the Ukrainian candidate for vaccines against coronavirus (COVID-19) will take about a year, Health Minister Maksym Stepanov has said.
“We still have a very long way to go for this vaccine candidate to become a vaccine. For this, we need to go through three phases of clinical trials. Now an appropriate production facility is being selected in Ukraine where this can be done. If our expectations come true, and the chosen manufacturer and the chosen path we go through normally, then in […] about a year, we can get original Ukrainian vaccine against COVID-19,” Stepanov said at an online briefing on Monday.
As reported, earlier the developers presented results of the preclinical study phase of original Ukrainian vaccine candidate to Ukrainian President Volodymyr Zelensky.
These studies lasted six months and include the presence of coronavirus neutralization in a sample of infected human cells. It was reported that this candidate for original Ukrainian vaccine is being created on the basis of a unique approach.
At the same time, Zelensky said that he cannot speak today about the timing of appearance of such a vaccine. If someone has a vaccine for COVID-19 earlier, Ukraine will buy it.

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UKRAINE LOOKING FOR SITE FOR TURKISH COMPANY TO PRODUCE UNMANNED AERIAL VEHICLES

Ukraine, within the framework of an agreement with the Turkish company Bayraktar on the location of the production of unmanned aerial vehicles (UAVs) in the country, is looking for an appropriate site for the enterprise, Deputy Prime Minister for Strategic Industries Oleh Urusky has said.
“The Turkish side is ready to make an investment. They need a platform from us meeting the appropriate requirements, on which they will build an enterprise that will eventually produce these vehicles,” he said at a press conference in Kyiv last week.
Urusky said that the Turkish side presented such an updated approach recently, and earlier it was ready to start production at one of the enterprises of Ukroboronprom.
The deputy prime minister said that Ukrainian engineers and designers will work at the Bayraktar enterprise in Ukraine, and it will receive the right to sell UAVs both in the Ukrainian and other markets.
Urusky also said that the possibility of joint production of mobile anti-tank missile systems with Turkey and the organization of a joint venture for the production of aircraft engines in Turkey for both UAVs and helicopters and a possible Turkish advanced combat aircraft are being considered.
The deputy prime minister said that the general principle is: “If their products are localized with us, our products are localized with them.”
“We envisage that several joint ventures will be created, including in the maritime area,” Urusky said. He said that the Ministry of Defense of Ukraine is interested in Turkish corvettes, detailed negotiations have not yet taken place, but the first corvette can be built in Turkey, and the rest at a Ukrainian enterprise.

NAFTOGAZ COMMISSIONS 33 MW SOLAR PLANT

Naftogaz Group received a feed-in tariff and a license to sell electricity for a new solar power plant in Chudniv, Zhytomyr region.
As the group reported on Wednesday, October 21, the planned volume of productive electricity supply for the first year of solar plant operation, built in September 2020, will amount to at least 36,500 MWh with an expected income of more than UAH 153 million.
Naftogaz clarified that the peak capacity of photovoltaic modules is 33.313 MW, and the capacity at the connection point is 25 MW.
The release states that the plant uses graphene-coated monocrystal photovoltaic modules with one of the highest capacity in its class of 430 W from ZNSHINE PV-Tech Co., as well as SUN2000-185KTL string inverters from Huawei.
“All support elements of equipment and materials are of Ukrainian origin,” the company noted.
“According to the company’s forecasts, the reduction of greenhouse gas emissions, in particular, carbon dioxide, will be at least 880,000 tonnes. In addition, the project encourages the economic development of the local community, as only Ukrainian specialists, including local residents, were involved in the construction of the solar power plant,” first deputy chairman of the board of NJSC Naftogaz Ukrainy Serhiy Pereloma explained.

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 26/10/20

National bank of Ukraine’s official rates as of 26/10/20

Source: National Bank of Ukraine